Czech Republic Inflation

Czech Republic

Czech Republic: Inflation drops in October

November 9, 2015

In October, consumer prices were unchanged over the previous month (September: -0.2% month-on-month). According to the Czech Statistical Office, the print reflects that lower prices for transport were offset by higher prices for clothing and footwear.

In October, inflation fell from September’s 0.4% to 0.2%, which marked the lowest level in seven months. In addition, the print fell short of the 0.4% that the markets had expected. As a result, inflation remained below the Czech National Bank’s (CNB) target range of 1.0% to 3.0%.

The CNB expects that consumer prices will rise 0.6% on average in 2015. For 2016, the CNB sees average inflation of 1.7%. FocusEconomics Consensus Forecast panelists project that inflation will reach 0.5% by the end of 2015, which is unchanged from last month’s Consensus. For 2016, panelists expect inflation to rise to 1.6%, which is also unchanged from last month’s estimate.

Author: Teresa Kersting, Economist

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Czech Republic Inflation Chart

Czech Republic Inflation October 2015

Note: Month-on-month changes and annual variation of consumer price index (CPI) in %.
Source: Czech National Statistics Office (CSO).

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